Focused on living in the present, users seek daily doses of small luxuries. In categories such as gaming, travel, short-term investment programs. For example, searches for gaming grew 57% and for beauty, 32%, compared to the previous year. But in addition to small pleasures, they expect immediate benefits from brands. For this reason, direct discounts are dethroning points or loyalty programs. Quality-price rules, and brands have to align with these expectations.
Decision making has become increasingly difficult. Today, people are looking for value and researching harder and using more touchpoints. In fact, 32% of people say they are spending more time making their purchasing decisions. And this behavior influences them to plan their purchases more in advance.
As people are increasingly exposed to a greater number of options, searches grow faster than actual sales. But what are they looking for? Get the most out of your purchase. Therefore, they are open to considering a greater variety of brands and those focused on more specific market segments. This is reflected in search: the top 10 brands in each industry are accounting for less and less of the total query volume. At the same time, searches that include the terms “best”, “trustworthy” and “opinions” have been growing since 2020. This behavior challenges brands to earn consumers' trust during their journey of discovery.
Nowadays, people prioritize relaxation, well-being and new experiences. To confront the world around us, self-care is no longer negotiable. For this reason, 49% of users declare that the reason for taking a trip is because of the benefits it brings to physical or mental health. Likewise, consumers are increasingly interested in products that offer holistic benefits and brands that promote inclusive well-being.
Today, 70% of people registered on YouTube watch multi-format content (shorts, VOD, live streaming, etc.). Because today people can search for what they need, in the format that best suits them, and consume it with an empowered intention. And that intention advances old stereotypes. If we look at the data, we can discover that 39% of men (+23 pp in 2023 vs. 2022) are consuming videos about hair care and 25% are watching videos about makeup (+14 pp in 2023 vs. 2022). However, we find ourselves in an identification crisis: half of Hispanic Americans do not feel identified with the communication of beauty and personal care brands. The great challenge for brands is, precisely, to build the path towards personalization to empower their audiences when they need it most.
We know that people's needs and interests are changing, but the integration of technology and content of interest to your audience will make a difference.
Source: Meliante, M. (2024, February 26). 4 truths about the behavior of
consumers in 2024. Think With Google. https://www.thinkwithgoogle.com/intl/es-419/insights/tendencias-de-consumo/ Verdades-consumidores-2024